50,000 Cash-Rich Applicants Flock to Subscription... 'Banpo Raemian Triniwon' First-Priority Competition Hits 237:1 [Real Estate AtoZ]

Highest Competition for 84㎡B at 531 to 1
Potential Market Profit of 3 Billion Won Draws Massive Subscription Demand

For the first-priority subscription for 'Banpo Raemian Triniwon,' which offers a potential market profit of around 3 billion won, approximately 50,000 subscription accounts were submitted. Despite the requirement to have nearly 2 billion won in cash to qualify for the purchase, a large number of 'cash-rich' individuals participated in the subscription process.

According to Cheongyak Home on November 11, the first-priority (local residents) subscription for Banpo Raemian Triniwon received a total of 54,631 applications for 230 units (excluding special supply). The average competition ratio was 237.53 to 1.

The highest competition ratio was for the 84㎡B unit type, with 7,440 applications for 14 available units, resulting in a ratio of 531.43 to 1. This was followed by 84㎡A at 457.33 to 1, and 84㎡C at 413.5 to 1.

The 59㎡A unit, which had a relatively larger supply, recorded a ratio of 245.16 to 1. Other types included 59㎡B at 198.59 to 1, 59㎡C at 152.31 to 1, and 59㎡D at 143.26 to 1.

For the special supply subscription held the previous day, 23,861 people applied for 276 units, with an average competition ratio of 86.45 to 1.

Despite the government's real estate policy announced on October 15, which tightened the mortgage loan limit to 200 million won, there was a surge in subscription applications. This is because Banpo is considered the most prestigious residential area within Gangnam, and the price ceiling system allows buyers to realize a market profit of about 2 to 3 billion won.

The selling price for the 59㎡ units at Banpo Raemian Triniwon does not exceed 2.5 billion won, but since the mortgage limit is set based on the market price, buyers can only borrow up to 200 million won. The selling price per 3.3㎡ at Raemian Triniwon is 84.84 million won, making the total price for a 59㎡ unit between 1.904 billion and 2.089 billion won, and for an 84㎡ unit between 2.651 billion and 2.749 billion won.

Perspective of Banpo Raemian Triniwon Sky Community. Provided by Samsung C&T Corporation

For the adjacent Raemian One Bailey, recent actual transaction prices were 4.25 billion won for a 59㎡ unit and 6.511 billion won for an 84㎡ unit. The highest prices recorded were 4.45 billion won (in June) for a 59㎡ unit and 7.15 billion won for an 84㎡ unit.

A representative from the sales team stated, "Banpo Raemian Triniwon is a landmark complex being built in Gubanpo, one of Korea's most affluent neighborhoods, and has attracted significant attention even before the sales launch. Its prime location, product competitiveness, and the strong brand trust in Raemian have all contributed to the high subscription competition."

'Banpo Raemian Triniwon' is a redevelopment project of Banpo Apartment District 3, comprising 17 buildings with a maximum of 35 floors above ground and 3 basement levels, totaling 2,091 units. The winners will be announced on November 19, and the contract period will be from December 1 to 4. The expected move-in date is August 2026.